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Bronco Capital's ABCD Harmonic Pattern Journal 94 replies

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The Bucking Bronco

  • #4,581
  • Edited 1:31am Apr 6, 2020 1:10am | Edited 1:31am
You think you are smart deleting your posts?
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  • #4,582
  • Edited 1:31am Apr 6, 2020 1:20am | Edited 1:31am
Quoting Jupiter
And you all are still there watching, I bet!
My serious readers know what I was talking about!
I have already spoken at length about my reference to Col. Boyd.

Col. John Boyd studied the behaviour of “top gun” fighter pilots of military aircraft
and found that, during dogfights with enemy planes, they make sophisticated decisions in a matter of seconds.
He described the decision-making process of Observe, Orient, Decide, and Act (OODA),
and became convinced that the key to training was to accelerate the OODA loops
so that pilots could respond more quickly and accurately than the enemy.

A top pilot himself, Boyd was famous for his challenge that he could start from a position of disadvantage in the air
and get behind the tail of any pilot who challenged him within 40 seconds—a challenge he apparently never lost.

Meditate on all this and find your personal conclusions.
  • #4,583
  • Apr 6, 2020 1:23am Apr 6, 2020 1:23am
Banking, while sadly posting!
As I said: we are not all brothers, here.
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  • #4,584
  • Apr 6, 2020 1:41am Apr 6, 2020 1:41am
Quoting Jupiter
As I said: we are not all brothers, here. {image}
What does this mean? ?
  • #4,585
  • Apr 6, 2020 8:04pm Apr 6, 2020 8:04pm
Quoting karuner
What does this mean?
It means exactly what it means...
The topic has already been covered several times and this unpleasant episode is not important.

I’m a big believer in starting with high standards and raising them.
We make progress only when we push ourselves to the highest level.
If we don’t progress, we backslide into bad habits, laziness and poor attitude.
But there is always someone who, in the end, don't get my point and demonstrates envy, jealousy, resentment or rancour.
I know that it is just a sign of frustration and sometimes of despair.
But I can't stand it.
This is why I wrote that rule n°3 in my post #1.
  • #4,586
  • Apr 6, 2020 8:05pm Apr 6, 2020 8:05pm
What I demonstrate every day is simply that a winning Trading is possible! (sometimes even remarkably aggressive!)
Those who cannot do this should understand that they are having problems.
There is nothing else to discuss.
They should ask themselves the reasons for their own incapacity...
which are then well known, essentially:
> ignorance (lack of adequate preparation),
> overtrading or
> not use of Stop Loss.
Begin with the understanding of your pattern of failure but remember that knowing your problem patterns is necessary for change, but not sufficient.
  • #4,587
  • Apr 6, 2020 8:06pm Apr 6, 2020 8:06pm
Without men, nature regains control of cities ...
For now, what we are risking are tufts of grass between the cobblestones of Piazza Navona in the center of the city of Rome,
clean water in the canals of Venice,
Parisian ducks that go as far as the Comédie Française,
the Las Vegas Strip that returns desert...

The lockdown son of the coronavirus has in a few weeks already given our imagination new places...
straddling sci-fi experiences and post-apocalyptic photographic research.
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  • #4,588
  • Edited Apr 7, 2020 12:55am Apr 6, 2020 8:14pm | Edited Apr 7, 2020 12:55am
To me, this will surely remain the most iconic image: the Pope alone in an empty S. Pietro Square.
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  • #4,589
  • Edited 8:31pm Apr 6, 2020 8:17pm | Edited 8:31pm
DAX Ger30. The H1 breakout.
Learn to face the facts and eliminate hope and fear!
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Click to Enlarge Name: 7_04_20 4.34 H1.jpg Size: 157 KB
  • #4,590
  • Apr 6, 2020 9:04pm Apr 6, 2020 9:04pm
Quoting Jupiter
They should ask themselves the reasons for their own incapacity...
Quoting Jupiter
how do we learn? In two different ways. Explicit and Implicit.
Concluding, here is Brett Steenbarger again.
Sun Tzu preparation, Pattern Recognition and the Truth of the Matter.
(Provided that "the Explicit Learning Phase" has been carried out on the correct sources and in the correct way... and it is already not a little thing!)

"Many are called, few are chosen.
I believe the implicit learning perspective helps to explain why so few traders ultimately succeed at their craft.
Quite simply, they cannot outlast their learning curves.
If, indeed, it takes thousands of trials to generate successful implicit learning, a great number of traders would have been bankrupted by then.
Many others might not survive that number of trials simply due to the time and energy required.
It is impossible to hold a full-time job and generate the degree of immersion in the markets needed for implicit learning.
On the other hand, it is impossible to obtain a full-time income from trading without developing the mastery conferred by years of experience.
Part-time traders never develop expertise for the same reason that part-time chess players or athletes are unlikely to succeed.
For purely practical reasons associated with raising a family, making a living, etc.,
few people can undergo the “starving artist” phase of skill-building."
  • #4,591
  • Apr 6, 2020 9:30pm Apr 6, 2020 9:30pm
Quoting Jupiter
{quote} {quote} Concluding, here is Brett Steenbarger again. Sun Tzu preparation, Pattern Recognition and the Truth of the Matter. (Provided that "the Explicit Learning Phase" has been carried out on the correct sources and in the correct way... and it is already not a little thing!) "Many are called, few are chosen. I believe the implicit learning perspective helps to explain why so few traders ultimately succeed at their craft. Quite simply, they cannot outlast their learning curves. If, indeed, it takes thousands of trials to generate successful...
Good morning Jupiter,

This post is so very true, the harsh reality.
  • #4,592
  • Edited 11:48pm Apr 6, 2020 10:08pm | Edited 11:48pm
Quoting fti
But of course no one understands what i saying.
Quoting fti
Remember, i am not a 5th wave chaser. I trade every wave.
Diagonal Triangle: wave 4 almost always enters in wave 1 territory... so?
A diagonal is typically contracting but, in rare occasions, can be expanding!
  • #4,593
  • Edited 11:16pm Apr 6, 2020 10:21pm | Edited 11:16pm
Time to face that harsh, sad reality.

Can you identify the specific edges you possess
over the many other motivated, interested traders that fail to achieve success in the markets?
Do you really have an edge?
And—if so—what are you doing to maintain it?

This is why I insisted on the necessity of a written, detailed plan...
  • #4,594
  • Apr 7, 2020 12:17am Apr 7, 2020 12:17am
I remember when I started out trading, I thought to myself that this was surely the road to great wealth. I started reading everything I could get my hands on, watch as many you tube videos I could while my eyes still stayed open, opened a trading account , stuck as many charts as I could on the platform, loaded them up with a trillion indicators, now I was ready to become the next millionaire, couldn't wait to get back home from work and switch on the computer. I think the majority of traders start along that road. Now, 13 years later, and 64 years old, I trade full time and focus purely on 1 instrument with 1 moving average and a couple of lines.

It feels like I have wasted many years jumping from system to system only to discover that I was chasing the wind.
I have learned to stick to my trading plan and system. IF I happen to mis a trade, so what, there will be another one. I don't suffer from FOMO.

Sorry for rambling on Jupiter. There is so much I still want to say, but, this your journal and I don't want to take over.
  • #4,595
  • Apr 7, 2020 12:21am Apr 7, 2020 12:21am
Quoting portergw
There is so much I still want to say, but, this your journal and I don't want to take over.
You are welcome!
Write, contribute... it's your home. It's the home of serious students of the Market.
  • #4,596
  • Apr 7, 2020 12:24am Apr 7, 2020 12:24am
10.450 level of interest.
  • #4,597
  • Apr 7, 2020 12:29am Apr 7, 2020 12:29am
Thank you Jupiter.
  • #4,598
  • Apr 7, 2020 2:15am Apr 7, 2020 2:15am
Quoting Jupiter
{quote} {quote} few people can undergo the “starving artist” phase of skill-building."
you've got to be naive enough to go the starving artist path...
...
  • #4,599
  • Edited 8:55pm Apr 7, 2020 8:16pm | Edited 8:55pm
Quoting fti
Ok define wave 4 rule.
Quoting Jupiter
Diagonal Triangle...
To me, that conversation on TAF is just an example of how easily misunderstandings can be built/generated when it comes to trading.
This is just an example of what I mean by education and danger of Forex Factory.

What am I supposed to do, now? Writing on TAF? Begin to explain how the structure of an Elliott Wave is made?
This is just a new demonstration that I see things differently.
It is only the demonstration that serious discussions on the Internet are not possible.

I have a lot of visual examples in my Archive.
Fundamental thing (the only possible safety!) is the quality of our own personal study!
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  • #4,600
  • Edited 9:34pm Apr 7, 2020 9:03pm | Edited 9:34pm
Quoting Jupiter
I have a lot of visual examples in my Archive.
Study the right, correct, precise things.
Be careful about what you allow to be put in your mind: garbage in, garbage out.
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